Nissay Asset Management Corp Japan ADV Purchases 9,925 Shares of Robinhood Markets, Inc. $HOOD

Nissay Asset Management Corp Japan ADV boosted its position in shares of Robinhood Markets, Inc. (NASDAQ:HOOD - Free Report) by 15.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,916 shares of the company's stock after purchasing an additional 9,925 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Robinhood Markets were worth $3,118,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Cigna Investments Inc. New increased its holdings in Robinhood Markets by 2.7% during the 1st quarter. Cigna Investments Inc. New now owns 6,730 shares of the company's stock worth $280,000 after purchasing an additional 174 shares in the last quarter. Hemington Wealth Management increased its holdings in Robinhood Markets by 52.2% during the 1st quarter. Hemington Wealth Management now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Robinhood Markets by 4.0% during the 1st quarter. Farther Finance Advisors LLC now owns 6,890 shares of the company's stock worth $290,000 after purchasing an additional 265 shares in the last quarter. Allworth Financial LP increased its holdings in Robinhood Markets by 23.4% during the 1st quarter. Allworth Financial LP now owns 1,401 shares of the company's stock worth $58,000 after purchasing an additional 266 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Robinhood Markets by 0.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 36,510 shares of the company's stock worth $1,520,000 after purchasing an additional 272 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $101.25 on Monday. Robinhood Markets, Inc. has a 52-week low of $18.71 and a 52-week high of $117.70. The company has a market capitalization of $89.98 billion, a P/E ratio of 51.40, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. The company has a 50-day simple moving average of $103.72 and a 200 day simple moving average of $71.42.

Robinhood Markets (NASDAQ:HOOD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Robinhood Markets had a net margin of 50.13% and a return on equity of 17.48%. The business had revenue of $989.00 million during the quarter, compared to the consensus estimate of $893.93 million. During the same period last year, the business posted $0.21 EPS. Robinhood Markets's revenue was up 45.0% on a year-over-year basis. As a group, equities analysts forecast that Robinhood Markets, Inc. will post 1.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HOOD shares. KeyCorp increased their target price on Robinhood Markets from $60.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Robinhood Markets from $70.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Citigroup increased their price objective on shares of Robinhood Markets from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Redburn Atlantic restated a "sell" rating and set a $48.00 price objective (up from $40.00) on shares of Robinhood Markets in a research note on Monday, June 9th. Finally, Barclays increased their price objective on shares of Robinhood Markets from $102.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.31.

Insider Activity

In related news, insider Steven M. Quirk sold 60,113 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $100.91, for a total value of $6,066,002.83. Following the completion of the sale, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. This trade represents a 38.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju Bhatt sold 418,338 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $109.39, for a total transaction of $45,761,993.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,767,854 shares of company stock valued at $569,828,413. Company insiders own 19.95% of the company's stock.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.

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